Canoo Inc (GOEV)

[BioChica]

I have been through splits usually avoid penny stocks,

They are seen as a sign that a company is in financial trouble and sees boosting its stock price artificially as the only way out. They're not wrong, but in fact, a number of companies have been forced to reverse-split their stocks during a bad stretch, only to make a genuine comeback in market value over time. It's all about the timing of the reverse split, in the case of Canoo timing a split with announcement of deliveries could work out well. Reducing the number of shares outstanding, I think a 1 for 7 should be the highest. but 5 for 1 would be preferred if the stock can reach .80.- 90 cents.